Man-made or natural disasters, such as flooding, mudslides, or fires, can inflict varying degrees of damage to a property. To mitigate risk, Alabama Housing Finance Authority (AHFA), maintains and publishes requirements for properties that are located within a disaster area.
AHFA’s Disaster Policy applies to properties located in counties where:
- The Federal Emergency Management Agency (FEMA) has issued a major disaster declaration
- An investor has issued a disaster notification
- AHFA has made a determination that there is risk of damage from a disaster that has not yet been declared by FEMA or an investor (i.e. AHFA pre-emption)